Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives $6.56 Average PT from Brokerages

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have been given a consensus rating of “Moderate Buy” by the nine analysts that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $6.56.

Several research firms recently weighed in on AKYA. Craig Hallum dropped their price target on Akoya Biosciences from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. BTIG Research downgraded shares of Akoya Biosciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. cut shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, August 6th. Piper Sandler dropped their price objective on shares of Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Finally, Morgan Stanley downgraded shares of Akoya Biosciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $4.00 to $3.00 in a research note on Tuesday, August 6th.

Akoya Biosciences Trading Up 2.6 %

NASDAQ AKYA opened at $3.14 on Wednesday. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.98 and a current ratio of 2.73. Akoya Biosciences has a fifty-two week low of $1.88 and a fifty-two week high of $6.31. The stock has a market cap of $155.07 million, a P/E ratio of -2.14 and a beta of 1.36. The stock has a 50 day simple moving average of $2.69 and a two-hundred day simple moving average of $2.80.

Akoya Biosciences (NASDAQ:AKYA) last posted its earnings results on Monday, August 5th. The company reported ($0.27) EPS for the quarter, hitting the consensus estimate of ($0.27). Akoya Biosciences had a negative net margin of 64.74% and a negative return on equity of 126.38%. The firm had revenue of $23.16 million during the quarter, compared to analysts’ expectations of $23.61 million. During the same period last year, the company posted ($0.51) EPS. On average, analysts forecast that Akoya Biosciences will post -0.98 earnings per share for the current year.

Institutional Trading of Akoya Biosciences

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Akoya Biosciences by 3.3% in the first quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock worth $6,821,000 after purchasing an additional 46,131 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new position in shares of Akoya Biosciences in the 1st quarter worth $2,724,000. Bank of New York Mellon Corp increased its position in Akoya Biosciences by 16.2% during the second quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock valued at $158,000 after acquiring an additional 9,429 shares during the last quarter. Finally, Regal Investment Advisors LLC lifted its holdings in Akoya Biosciences by 64.3% in the second quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after acquiring an additional 7,340 shares during the period. Hedge funds and other institutional investors own 79.42% of the company’s stock.

Akoya Biosciences Company Profile

Akoya Biosciences, Inc, a life sciences technology company, provides spatial biology solutions focused on transforming discovery and clinical research in North America, the Asia Pacific, Europe, the Middle East, and Africa. The company offers PhenoCycler instrument, a compact bench-top fluidics system that integrates with a companion microscope to automate image acquisition; and PhenoImager platform that enables researchers to visualize, analyze, quantify, and phenotype cells in situ, in fresh frozen or FFPE tissue sections, and tissue microarrays utilizing an automated and high-throughput workflow.